Texas Permanent School Fund Corp Trims Holdings in Fastenal (NASDAQ:FAST)

Texas Permanent School Fund Corp trimmed its holdings in Fastenal (NASDAQ:FASTFree Report) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 118,061 shares of the company’s stock after selling 1,687 shares during the period. Texas Permanent School Fund Corp’s holdings in Fastenal were worth $6,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FAST. Roundview Capital LLC grew its stake in Fastenal by 0.6% in the 1st quarter. Roundview Capital LLC now owns 85,339 shares of the company’s stock valued at $5,069,000 after acquiring an additional 479 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Fastenal by 55.3% in the 1st quarter. Vontobel Holding Ltd. now owns 19,099 shares of the company’s stock valued at $1,140,000 after purchasing an additional 6,797 shares in the last quarter. Sei Investments Co. lifted its holdings in Fastenal by 18.1% in the 1st quarter. Sei Investments Co. now owns 239,760 shares of the company’s stock valued at $14,218,000 after purchasing an additional 36,709 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Fastenal by 24.6% in the 1st quarter. Cetera Investment Advisers now owns 26,251 shares of the company’s stock valued at $1,559,000 after purchasing an additional 5,190 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in Fastenal by 9.0% in the 1st quarter. Moors & Cabot Inc. now owns 9,534 shares of the company’s stock valued at $566,000 after purchasing an additional 786 shares in the last quarter. 78.47% of the stock is owned by institutional investors and hedge funds.

Fastenal Trading Up 1.1 %

Shares of FAST stock opened at $70.02 on Monday. The firm has a market cap of $40.07 billion, a P/E ratio of 34.66, a PEG ratio of 3.62 and a beta of 1.05. Fastenal has a 1-year low of $50.30 and a 1-year high of $70.95. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.57 and a quick ratio of 2.27. The firm’s 50-day simple moving average is $65.52 and its 200-day simple moving average is $60.34.

Fastenal (NASDAQ:FASTGet Free Report) last announced its quarterly earnings data on Thursday, January 18th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Fastenal had a net margin of 15.72% and a return on equity of 34.31%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 EPS. As a group, equities analysts forecast that Fastenal will post 2.15 EPS for the current year.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.39 per share. This is a positive change from Fastenal’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Wednesday, January 31st. Fastenal’s dividend payout ratio is presently 77.23%.

Insider Transactions at Fastenal

In related news, CEO Daniel L. Florness sold 19,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $60.02, for a total value of $1,170,390.00. Following the transaction, the chief executive officer now owns 284,410 shares in the company, valued at $17,070,288.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Daniel L. Florness sold 19,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $60.02, for a total value of $1,170,390.00. Following the transaction, the chief executive officer now owns 284,410 shares in the company, valued at $17,070,288.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP John Lewis Soderberg sold 400 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $63.17, for a total transaction of $25,268.00. Following the completion of the transaction, the vice president now owns 488 shares in the company, valued at approximately $30,826.96. The disclosure for this sale can be found here. Insiders have sold a total of 143,120 shares of company stock worth $9,322,231 in the last three months. Company insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FAST shares. Robert W. Baird upped their target price on shares of Fastenal from $62.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Stifel Nicolaus upped their target price on shares of Fastenal from $69.00 to $75.00 and gave the company a “buy” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.17.

Get Our Latest Analysis on FAST

Fastenal Profile

(Free Report)

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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Institutional Ownership by Quarter for Fastenal (NASDAQ:FAST)

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